Consumerism

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Nudge: Improving Decisions About Health, Wealth, and Happiness

by Richard H. Thaler from Yale University Press

Amazon Best of the Month, April 2008: Debit or credit? Paper or plastic? Lease or buy? Public or private school? Have you made the right choices? Probably not, according to the important new research on the science of choice. In clear and entertaining style, Nudge: Improving Decisions About Health, Wealth, and Happiness provides a crash course on how and why humans are prone to make bad choices, and what we can do about it. Through dozens of eye-opening examples, authors Richard Thaler and Cass Sunstein demonstrate how "choice architecture"--a fancy term for the particular scenario or context in which we are asked to make a decision--can actually nudge us toward making better decisions. More importantly, the authors show that by putting the right "nudges" in place, choice architects (who range from cafeteria managers to divorce lawyers) can substantially improve just about everything important to us, from our retirement savings to the health of our planet, without removing our range of options. Recommended for fans and foes of Freakonomics and Predictably Irrational. --Lauren Nemroff

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Bonus Excerpts from Nudge

Who Needs to Nudge?
Just what are "nudges"? And who needs to know about them? Learn more in this special excerpt.

Ready for More?
Read a sample chapter to see which dozen nudges the authors would most recommend for improving everyday life.

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Questions for Richard Thaler and Cass Sunstein

Amazon.com: What do you mean by "nudge" and why do people sometimes need to be nudged?

Thaler and Sunstein: By a nudge we mean anything that influences our choices. A school cafeteria might try to nudge kids toward good diets by putting the healthiest foods at front. We think that it's time for institutions, including government, to become much more user-friendly by enlisting the science of choice to make life easier for people and by gentling nudging them in directions that will make their lives better.

Amazon.com: What are some of the situations where nudges can make a difference?

Thaler and Sunstein: Well, to name just a few: better investments for everyone, more savings for retirement, less obesity, more charitable giving, a cleaner planet, and an improved educational system. We could easily make people both wealthier and healthier by devising friendlier choice environments, or architectures.

Amazon.com: Can you describe a nudge that is now being used successfully?

Thaler and Sunstein: One example is the Save More Tomorrow program. Firms offer employees who are not saving very much the option of joining a program in which their saving rates are automatically increased whenever the employee gets a raise. This plan has more than tripled saving rates in some firms, and is now offered by thousands of employers.

Amazon.com: What is "choice architecture" and how does it affect the average person's daily life?

Thaler and Sunstein: Choice architecture is the context in which you make your choice. Suppose you go into a cafeteria. What do you see first, the salad bar or the burger and fries stand? Where's the chocolate cake? Where's the fruit? These features influence what you will choose to eat, so the person who decides how to display the food is the choice architect of the cafeteria. All of our choices are similarly influenced by choice architects. The architecture includes rules deciding what happens if you do nothing; what's said and what isn't said; what you see and what you don't. Doctors, employers, credit card companies, banks, and even parents are choice architects.

We show that by carefully designing the choice architecture, we can make dramatic improvements in the decisions people make, without forcing anyone to do anything. For example, we can help people save more and invest better in their retirement plans, make better choices when picking a mortgage, save on their utility bills, and improve the environment simultaneously. Good choice architecture can even improve the process of getting a divorce--or (a happier thought) getting married in the first place!

Amazon.com: You are very adamant about allowing people to have choice, even though they may make bad ones. But if we know what's best for people, why just nudge? Why not push and shove?

Thaler and Sunstein: Those who are in position to shape our decisions can overreach or make mistakes, and freedom of choice is a safeguard to that. One of our goals in writing this book is to show that it is possible to help people make better choices and retain or even expand freedom. If people have their own ideas about what to eat and drink, and how to invest their money, they should be allowed to do so.

Amazon.com: You point out that most people spend more time picking out a new TV or audio device than they do choosing their health plan or retirement investment strategy? Why do most people go into what you describe as "auto-pilot mode" even when it comes to making important long-term decisions?

Thaler and Sunstein: There are three factors at work. First, people procrastinate, especially when a decision is hard. And having too many choices can create an information overload. Research shows that in many situations people will just delay making a choice altogether if they can (say by not joining their 401(k) plan), or will just take the easy way out by selecting the default option, or the one that is being suggested by a pushy salesman.

Second, our world has gotten a lot more complicated. Thirty years ago most mortgages were of the 30-year fixed-rate variety making them easy to compare. Now mortgages come in dozens of varieties, and even finance professors can have trouble figuring out which one is best. Since the cost of figuring out which one is best is so hard, an unscrupulous mortgage broker can easily push unsophisticated borrowers into taking a bad deal.

Third, although one might think that high stakes would make people pay more attention, instead it can just make people tense. In such situations some people react by curling into a ball and thinking, well, err, I'll do something else instead, like stare at the television or think about baseball. So, much of our lives is lived on auto-pilot, just because weighing complicated decisions is not so easy, and sometimes not so fun. Nudges can help ensure that even when we're on auto-pilot, or unwilling to make a hard choice, the deck is stacked in our favor.

Amazon.com: Are we humans just poorly adapted for making sound judgments in an increasingly fast-paced and complex world? What can we do to position ourselves better?

Thaler and Sunstein: The human brain is amazing, but it evolved for specific purposes, such as avoiding predators and finding food. Those purposes do not include choosing good credit card plans, reducing harmful pollution, avoiding fatty foods, and planning for a decade or so from now. Fortunately, a few nudges can help a lot. A few small hints: Sign up for automatic payment plans so you don't pay late fees. Stop using your credit cards until you can pay them off on time every month. Make sure you're enrolled in a 401(k) plan. A final hint: Read Nudge.

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Influence: The Psychology of Persuasion (Collins Business Essentials)

by Robert B. Cialdini from Collins Business

Arguably the best book ever on what is increasingly becoming the science of persuasion. Whether you're a mere consumer or someone weaving the web of persuasion to urge others to buy or vote for your product, this is an essential book for understanding the psychological foundations of marketing. Recommended.

Influence, the classic book on persuasion, explains the psychology of why people say "yes"—and how to apply these understandings. Dr. Robert Cialdini is the seminal expert in the rapidly expanding field of influence and persuasion. His thirty-five years of rigorous, evidence-based research along with a three-year program of study on what moves people to change behavior has resulted in this highly acclaimed book.

You'll learn the six universal principles, how to use them to become a skilled persuader—and how to defend yourself against them. Perfect for people in all walks of life, the principles of Influence will move you toward profound personal change and act as a driving force for your success.

Buying In: The Secret Dialogue Between What We Buy and Who We Are

by Rob Walker from Random House

“Fascinating … A compelling blend of cultural anthropology and business journalism.” — Andrea Sachs, Time Magazine

“An often startling tour of new cultural terrain.” — Laura Miller, Salon

“Marked by meticulous research and careful conclusions, this superbly readable book confirms New York Times journalist Walker as an expert on consumerism. … [A] thoughtful and unhurried investigation into consumerism that pushes the analysis to the maximum…” — Publisher’s Weekly (starred review)

Brands are dead. Advertising no longer works. Weaned on TiVo, the Internet, and other emerging technologies, the short-attention-span generation has become immune to marketing. Consumers are “in control.” Or so we’re told.
In Buying In, New York Times Magazine “Consumed” columnist Rob Walker argues that this accepted wisdom misses a much more important and lasting cultural shift. As technology has created avenues for advertising anywhere and everywhere, people are embracing brands more than ever before–creating brands of their own and participating in marketing campaigns for their favorite brands in unprecedented ways. Increasingly, motivated consumers are pitching in to spread the gospel virally, whether by creating Internet video ads for Converse All Stars or becoming word-of-mouth “agents” touting products to friends and family on behalf of huge corporations. In the process, they–we–have begun to funnel cultural, political, and community activities through connections with brands.

Walker explores this changing cultural landscape–including a practice he calls “murketing,” blending the terms murky and marketing–by introducing us to the creative marketers, entrepreneurs, artists, and community organizers who have found a way to thrive within it. Using profiles of brands old and new, including Timberland, American Apparel, Pabst Blue Ribbon, Red Bull, iPod, and Livestrong, Walker demonstrates the ways in which buyers adopt products, not just as consumer choices, but as conscious expressions of their identities.

Part marketing primer, part work of cultural anthropology, Buying In reveals why now, more than ever, we are what we buy–and vice versa.


Praise for Buying In
“Walker … makes a startling claim: Far from being immune to advertising, as many people think, American consumers are increasingly active participants in the marketing process. … [He] leads readers through a series of lucid case studies to demonstrate that, in many cases, consumers actively participate in infusing a brand with meaning. … Convincing.” — Jay Dixit, The Washington Post

“Walker lays out his theory in well-written, entertaining detail.” — Seth Stevenson, Slate

“Buying In delves into the attitudes of the global consumer in the age of plenty, and, well, we aren’t too pretty. Walker carries the reader on a frenetically paced tour of senseless consumption spanning from Viking ranges to custom high-tops.” — Robert Blinn, Core77

“Rob Walker is one smart shopper.” — Jen Trolio, ReadyMade

“The most trenchant psychoanalyst of our consumer selves is Rob Walker. This is a fresh and fascinating exploration of the places where material culture and identity intersect.”
–Michael Pollan, author of In Defense of Food

“This book has vast social implications, far beyond the fields of marketing and branding. It obliterates our old paradigm of companies (the bad guys) corrupting our children (the innocents) via commercials. In this new world, media-literate young people freely and willingly co-opt the brands, and most companies are clueless bystanders desperate to keep up. I really don't know if this is good news or bad news, but I can say, with certainty, that this book is a must-read.”
–Po Bronson, author of What Should I Do with My Life?

“Rob Walker is a gift. He shows that in our shattered, scattered world, powerful brands are existential, insinuating themselves into the human questions ‘What am I about?’ and ‘How do I connect?’ His insight that brand influence is becoming both more pervasive and more hidden–that we are not so self-defined as we like to think–should make us disturbed, and vigilant.”
–Jim Collins, author of Good to Great

“Rob Walker is a terrific writer who understands both human nature and the business world. His book is highly entertaining, but it’s also a deeply thoughtful look at the ways in which marketing meets the modern psyche.”
–Bethany McLean, editor at large, Fortune, and co-author of The Smartest Guys in the Room

“Are we living in an era of YouTube-empowered, brand-rejecting consumers? Rob Walker has the surprising answers, and you won’t want to miss this joyride through the front lines of consumer culture. A marketing must-read.”
–Chip Heath and Dan Heath, authors of Made to Stick

“Rob Walker brilliantly deconstructs the religion of consumption. Love his column, couldn’t put his book down.”
–Paco Underhill, author of Why We Buy

The Wisdom of Crowds

by James Surowiecki from Anchor

In this fascinating book, New Yorker business columnist James Surowiecki explores a deceptively simple idea: Large groups of people are smarter than an elite few, no matter how brilliant–better at solving problems, fostering innovation, coming to wise decisions, even predicting the future.

With boundless erudition and in delightfully clear prose, Surowiecki ranges across fields as diverse as popular culture, psychology, ant biology, behavioral economics, artificial intelligence, military history, and politics to show how this simple idea offers important lessons for how we live our lives, select our leaders, run our companies, and think about our world.

The Wisdom of Crowds


I


If, years hence, people remember anything about the TV game show Who Wants to Be a Millionaire?, they will probably remember the contestants' panicked phone calls to friends and relatives. Or they may have a faint memory of that short-lived moment when Regis Philbin became a fashion icon for his willingness to wear a dark blue tie with a dark blue shirt. What people probably won't remember is that every week Who Wants to Be a Millionaire? pitted group intelligence against individual intelligence, and that every week, group intelligence won.

Who Wants to Be a Millionaire? was a simple show in terms of structure: a contestant was asked multiple-choice questions, which got successively more difficult, and if she answered fifteen questions in a row correctly, she walked away with $1 million. The show's gimmick was that if a contestant got stumped by a question, she could pursue three avenues of assistance. First, she could have two of the four multiple-choice answers removed (so she'd have at least a fifty-fifty shot at the right response). Second, she could place a call to a friend or relative, a person whom, before the show, she had singled out as one of the smartest people she knew, and ask him or her for the answer. And third, she could poll the studio audience, which would immediately cast its votes by computer. Everything we think we know about intelligence suggests that the smart individual would offer the most help. And, in fact, the "experts" did okay, offering the right answer--under pressure--almost 65 percent of the time. But they paled in comparison to the audiences. Those random crowds of people with nothing better to do on a weekday afternoon than sit in a TV studio picked the right answer 91 percent of the time.

Now, the results of Who Wants to Be a Millionaire? would never stand up to scientific scrutiny. We don't know how smart the experts were, so we don't know how impressive outperforming them was. And since the experts and the audiences didn't always answer the same questions, it's possible, though not likely, that the audiences were asked easier questions. Even so, it's hard to resist the thought that the success of the Millionaire audience was a modern example of the same phenomenon that Francis Galton caught a glimpse of a century ago.

As it happens, the possibilities of group intelligence, at least when it came to judging questions of fact, were demonstrated by a host of experiments conducted by American sociologists and psychologists between 1920 and the mid-1950s, the heyday of research into group dynamics. Although in general, as we'll see, the bigger the crowd the better, the groups in most of these early

experiments--which for some reason remained relatively unknown outside of academia--were relatively small. Yet they nonetheless performed very well. The Columbia sociologist Hazel Knight kicked things off with a series of studies in the early 1920s, the first of which had the virtue of simplicity. In that study Knight asked the students in her class to estimate the room's temperature, and then took a simple average of the estimates. The group guessed 72.4 degrees, while the actual temperature was 72 degrees. This was not, to be sure, the most auspicious beginning, since classroom temperatures are so stable that it's hard to imagine a class's estimate being too far off base. But in the years that followed, far more convincing evidence emerged, as students and soldiers across America were subjected to a barrage of puzzles, intelligence tests, and word games. The sociologist Kate H. Gordon asked two hundred students to rank items by weight, and found that the group's "estimate" was 94 percent accurate, which was better than all but five of the individual guesses. In another experiment students were asked to look at ten piles of buckshot--each a slightly different size than the

The Long Tail: Why the Future of Business is Selling Less of More

by Chris Anderson from Hyperion

"The Long Tail" is a powerful new force in our economy: the rise of the niche. As the cost of reaching consumers drops dramatically, our markets are shifting from a one-size-fits-all model of mass appeal to one of unlimited variety for unique tastes. From supermarket shelves to advertising agencies, the ability to offer vast choice is changing everything, and causing us to rethink where our markets lie and how to get to them. Unlimited selection is revealing truths about what consumers want and how they want to get it, from DVDs at Netflix to songs on iTunes to advertising on Google. However, this is not just a virtue of online marketplaces; it is an example of an entirely new economic model for business, one that is just beginning to show its power. After a century of obsessing over the few products at the head of the demand curve, the new economics of distribution allow us to turn our focus to the many more products in the tail, which collectively can create a new market as big as the one we already know. The Long Tail is really about the economics of abundance. New efficiencies in distribution, manufacturing, and marketing are essentially resetting the definition of whats commercially viable across the board. If the 20th century was about hits, the 21st will be equally about niches.

The Complete Tightwad Gazette

by Amy Dacyczyn from Villard

Though tightwad seems like a derogatory term, author Amy Dacyczyn wants to assure you that it's okay to be a penny-pincher. This self-styled "Frugal Zealot" wrote and published The Tightwad Gazette for over six years to spread the frugal gospel. Each issue contained tips from her personal experience and from her many readers. The wealth of information contained in all these issues has been compiled into one volume for the first time. You'll find literally thousands of ideas for saving money, from the simple or practical to the difficult or bizarre. On the simple, practical side, Dacyczyn advises would-be tightwads to keep track of price trends at several stores in a "price book" and to buy in bulk when prices are low. Other, stranger offerings include tips for turning margarine-tub lids into playing-card holders, old credit cards into guitar picks, and six-pack rings into a hammock or volleyball net. More helpful are inexpensive recipes for making homemade versions of pricey, well-known products and ingenious ways to fix broken or damaged items. The book's disorganization encourages browsing, but the detailed index will point you to the exact page for specific items. Dacyczyn's occasional "thriftier than thou" tone is balanced by the friendly support for frugality that infuses every page. She even reminds her readers that it's okay to "sweat the small stuff"--because this small stuff is the essence of frugality. --C.B. Delaney

At last--the long-awaited complete compendium
of tightwad tips for fabulous frugal living!

In a newsletter published from May 1990 to December 1996 as well as in three enormously successful books, Amy Dacyczyn established herself as the expert of economy. Now The Complete Tightwad Gazette brings together all of her best ideas and thriftiest thinking into one volume, along with new articles never published before in book format. Dacyczyn describes this collection as "the book I wish I'd had when I began my adult life." Packed with humor, creativity, and insight, The Complete Tightwad Gazette includes hundreds of tips and topics, such as:

¸   Travel for tightwads   ¸   How to transform old blue jeans into potholders and quilts   ¸   Ten painless ways to save $100 this year   ¸   Picture-framing for pennies   ¸   A comparison of painting versus re-siding your house   ¸   Halloween costumes from scrounged materials   ¸   Thrifty window treatments   ¸   Ways to dry up dry-cleaning costs   ¸   Inexpensive gifts   ¸   Creative fundraisers for kids   ¸   Slashing your electric bill   ¸   Frugal fix-its   ¸   Cutting the cost of college   ¸   Moving for less   ¸    Saving on groceries   ¸   Gift-wrapping for tightwads   ¸   Furniture-fusion fundamentals   ¸   Cheap breakfast cereals   ¸   Avoiding credit card debt   ¸   Using items you were about to throw away (milk jugs, plastic meat trays, and more!)   ¸   Recipes galore, from penny-pinching pizza to toaster pastries   ¸   And much much more . . .

Three books in one--a $38.97 value for only $19.99!

Why We Buy: The Science Of Shopping

by Paco Underhill from Simon & Schuster

In an effort to determine why people buy, Paco Underhill and his detailed-oriented band of retail researchers have camped out in stores over the course of 20 years, dedicating their lives to the "science of shopping." Armed with an array of video equipment, store maps, and customer-profile sheets, Underhill and his consulting firm, Envirosell, have observed over 900 aspects of interaction between shopper and store. They've discovered that men who take jeans into fitting rooms are more likely to buy than females (65 percent vs. 25 percent). They've learned how the "butt-brush factor" (bumped from behind, shoppers become irritated and move elsewhere) makes women avoid narrow aisles. They've quantified the importance of shopping baskets; contact between employees and shoppers; the "transition zone" (the area just inside the store's entrance); and "circulation patterns" (how shoppers move throughout a store). And they've explored the relationship between a customer's amenability and profitability, learning how good stores capitalize on a shopper's unspoken inclinations and desires.

Underhill, whose clients include McDonald's, Starbucks, Estée Lauder, and Blockbuster, stocks Why We Buy with a wealth of retail insights, showing how men are beginning to shop like women, and how women have changed the way supermarkets are laid out. He also looks to the future, projecting massive retail opportunities with an aging baby-boom population and predicting how online retailing will affect shopping malls. This lighthearted look at shopping is highly recommended to anyone who buys or sells. --Rob McDonald

Is there a method to our madness when it comes to shopping? Hailed by the San Francisco Chronicle as "a Sherlock Holmes for retailers," author and research company CEO Paco Underhill answers with a definitive "yes" in this witty, eye-opening report on our ever-evolving consumer culture. Why We Buy is based on hard data gleaned from thousands of hours of field research -- in shopping malls, department stores, and supermarkets across America. With his team of sleuths tracking our every move, from sweater displays at the mall to the beverage cooler at the drugstore, Paco Underhill lays bare the struggle among merchants, marketers, and increasingly knowledgeable consumers for control.

In his quest to discover what makes the contemporary consumer tick, Underhill explains the shopping phenomena that often go unnoticed by retailers and shoppers alike, including:

• How a well-placed shopping basket can turn a small purchase into a significant sale

• What the "butt-brush factor" is and how it can make sales plummet

• How working women have altered the way supermarkets are designed

• How the "boomerang effect" makes product placement ever more challenging

• What kinds of signage and packaging turn browsers into buyers

For those in retailing and marketing, Why We Buy is a remarkably fresh guide, offering creative and insightful tips on how to adapt to the changing customer. For the general public, Why We Buy is a funny and sometimes disconcerting look at our favorite pastime.

Marketing Metaphoria: What Deep Metaphors Reveal About the Minds of Consumers

by Gerald Zaltman from Harvard Business School Press

Why do advertising campaigns and new products often fail? Why do consumers feel that companies don't understand their needs? Because marketers themselves don't think deeply about consumers' innermost thoughts and feelings. Marketing Metaphoria is a groundbreaking book that reveals how to overcome this "depth deficit" and find the universal drivers of human behavior so vital to a firm's success.



Marketing Metaphoria reveals the powerful unconscious viewing lenses--called "deep metaphors"-- that shape what people think, hear, say, and do.



Drawing on thousands of one-on-one interviews in more than thirty countries, Gerald Zaltman and Lindsay Zaltman describe how some of the world's most successful companies as well as small firms, not-for-profits, and social enterprises have successfully leveraged deep metaphors to solve a wide variety of marketing problems. Marketing Metaphoria should convince you that everything consumers think and do is influenced at unconscious levels--and it will give you access to those deeper levels of thinking.

"An imaginative and insightful application of cognitive science to the world of business, rich with implications for both fields."

-Steven Pinker, Johnstone Family Professor, Department of Psychology, Harvard University, and author, How the Mind Works and The Stuff of Thought.

"Marketing Metaphoria is one of the most fascinating business books I have read in a long time. A brilliant combination of deep insight and actionable advice, it will forever change how you think about marketing."

-Daniel H. Pink, author, A Whole New Mind

"Despite the availability of increasingly sophisticated methods, most customer relationships remain standardized, superficial, and lacking in informed customization. Through deep metaphors, the Zaltmans provide an insightful and provocative framework for identifying and learning from the implicit cognitive influences on customer decision making that can enhance and deepen intimacy and loyalty."

-Gary W. Loveman, Chairman, CEO and President, Harrah's Entertainment, Inc.

"Any business seeking to build global brands should read the Zaltmans' groundbreaking work on metaphors. The universal power of deep metaphors crosses borders and generations, and enduring brands trade off this thinking, whether their owners know it or not."

-Tom Long, President and CEO, Miller Brewing Company

"A disruptive book that will change how you think about customer insights. The emotional power offered within these pages will energize you to dig deeper into your business and turn thin functional insights into rich emotional messages that will propel your business."

-Donna J. Sturgess, Global Head of Innovation, GlaxoSmithKline

"With the profound advances in psychology and neuroscience over the past two decades, I'm convinced that now is the time for practitioners to rewrite the 'principles of marketing.' Marketing Metaphoria transforms insights from the authors' research into a rich framework that will help you think more deeply about your consumers and develop more innovative ideas for action. Read it twice, then keep it on your desk for ready reference."

-Bob Woodard, Vice President, Global Consumer and Customer Insights, Campbell Soup Company

What's the Secret: To Providing a World-Class Customer Experience

by John R. DiJulius from Wiley

What's The Secret? finally answers the question and reveals how companies like Disney, Nordstrom, and The Ritz-Carlton get 50,000 employees to deliver world-class customer service on a consistent basis while the majority of businesses struggle with getting much smaller teams to do it right. But this book doesn't just reveal what the best customer service companies do; it reveals how they do it. After all, that's the hard part. Author John DiJulius, considered the authority on customer service, has cracked the code through his extensive experience at helping large companies deliver superior service, and he knows the best practices of the world-class customer service companies. Now, he shares that inside knowledge and shows readers how to emulate these high standards of service in their own businesses, no matter how small or how large. With proven action steps and non-negotiable customer service standards, any business owner or leader can differentiate their business by becoming a customer service powerhouse.

Authenticity: What Consumers Really Want

by James H. Gilmore from Harvard Business School Press

Contrived. Disingenuous. Phony. Inauthentic. Do your customers use any of these words to describe what you sell or how you sell it? If so, welcome to the club. Inundated by fakes and sophisticated counterfeits, people increasingly see the world in terms of real or fake. They would rather buy something real from someone genuine, rather than something fake from some phony. When deciding to buy, consumers judge an offering s (and a company s) authenticity as much as if not more than price, quality, and availability.

In Authenticity, James H. Gilmore and B. Joseph Pine II argue that, to trounce rivals, companies must grasp, manage, and excel at rendering authenticity. Through examples from a wide array of industries as well as government, non-profit, education, and religious sectors, the authors show how to manage customers perception of authenticity by:

· Recognizing how businesses fake it
· Appealing to the five different genres of authenticity
· Charting how to be true to self and what you say you are
· Crafting and implementing business strategies for rendering authenticity

The first to explore what authenticity really means for businesses and how companies can approach it both thoughtfully and thoroughly, this book is a must-read for any organization seeking to fulfill consumers intensifying demand for the real deal.